CornerStone Apparel, Inc.

ABOUT THE CASE

CornerStone Apparel, Inc.

d/b/a Papaya Clothing
SECTOR: Consumer Discretionary - Retail
CONFIRMED DATE: July 2017
ROLE: Financial Advisor to the Official Committee of Unsecured Creditors
Cornerstone Apparel, Inc., currently operates a chain of 74 apparel stores that cater to the 16 to 25-year-old age group. Rapid expansion, with 50 new stores opened in the last 6 years, combined with the timing of ongoing, industry-wide shifts in consumer preferences and behavior led to bankruptcy. Province is acting as financial advisor to the committee of unsecured creditors and given that Debtor has not hired a financial advisor, Province’s scope of work includes creation and analysis of certain work product that is typically undertaken by the debtor’s financial advisor.
Go Back